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Welfare programs, federal tax payments suspension, and preferential credits are some measures that the Russian government will implement to avoid a recession.

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"The absolute priority is people's health, life, and safety," President Putin stressed.

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With international panic over the coronavirus, the price of an oil barrel has sunk below the $25 threshold for the first time in nearly two decades. 

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On Saturday, Russia's lower chamber of parliament, the State Duma passed the constitutional changes.

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Russians will decide about the approved amendments in a plebiscite to be held on April 22.

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Oil prices are also under threat after Saudi Arabia and the United Arab Emirates announced increased production, only to face Russia. This would mean an increase in cheap oil supplies in the world.

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